In 2012, Antin was a young private equity firm managing a €1.1bn fund raised from bank BNP Paribas and several institutional investors. As per its mandate, it had invested in brownfield infrastructure assets in Europe ranging from a toll road in Croatia, to a train leasing company in the UK, or solar photovoltaic power plants in Italy. Antin followed a “value-add” strategy, taking an active role in setting strategy for its businesses to “de-risk”, improve and grow them, and eventually sell them at a higher multiple. Now it had the opportunity to bid for over 2,000 wireless communication towers being sold by Bouygues Telecom.
The discussion will focus on the following topics:
Infrastructure assets as financial investments:
• What are the key characteristics of infrastructure assets as investments?
• Why have these assets become so attractive to institutional investors?
Private equity:
• Antin targeted a 15% IRR and a 5% cash yield: What do these mean?
• How do the investors (LPs) and Antin’s team (GP) share profits?
Business strategy and value creation:
• What are the value drivers of a tower business?
• What value creation opportunities might Antin follow with the towers?
Program:
5:00 pm Welcome Coffee & Registration
5:30 pm Introduction by Sandrine Pompidou & Nicolas Henckes, co-presidents of HEC Alumni Luxembourg
5:40 pm Presentation of HEC Executive Education programs
6:00 pm Masterclass by Professor Gromb
7:00 pm Q&A
7:30 pm Networking Cocktail
Location:
Chambre de Commerce
7 r. Alcide de Gasperi - Kirchberg
2981 Luxembourg
Parking spaces will be available on first come first served basis.